Examining Factors Affecting Mobile Money Usage and Its Impact on Livelihood in Ghana

Abstract The study examines factors affecting the acceptance of mobile money usage and its impact on livelihood in Ghana. A holistic view of mobile money usage suggests that, it is still a rapidly a novel area for research in developing countries and has the potential to better the livelihoods of people. For this reason, it is imperative to find out the factors affecting the wide usage of mobile money and its impact on livelihood. It used TAM as the theoretical lens to examine mobile money user’s acceptance and empirically validated data by using regression analysis. Data was collected from mobile money users through an online survey through a structured questionnaire. Purposive and Simple Random sampling approach, were used as the research methodology to select 385 mobile money users in Ghana. Results showed that all constructs (PU, PEOU, PS, PEOL) influenced consumers' desire to use mobile money services which has improved and facilitated the growth of small businesses, provided secure transactions, and provided savings. Mobile money services have also given access to credit, reduced corruption, and job opportunities in areas like customer service, mobile money agent networks. The study recommends that mobile money service providers should provide services that provide ease of use and usefulness to consumers.